EUR/NOK continues to test its 200-DMA......>

EURO-NOK: EUR/NOK continues to test its 200-DMA (NOK10.4460) and last trades at

NOK10.4494, 102 pips worse off. WTI has crept slightly higher as we await the

reopening of Brent futures. Little of note seen on the wires elsewhere.

- Oil dynamics remain in focus, following the weekend decision of OPEC+ to

extend production cuts and later comments from major crude producers.

Furthermore, Norwegian lawmakers unveiled a tax-relief legislation for domestic

oil industry. The sponsors of the bill have a majority in the Norwegian

parliament.

- A clean break below the 200-DMA at NOK10.4460 would draw attention to Mar 3

low of NOK10.2826. On the flip side, bulls look for a rebound above Jun 3 high

of NOK10.7061, followed by the 100-DMA intersecting at NOK10.8718.

- Norwegian inflation data will be released on Wednesday.